It's a logical redeco for that mold. Really, just about the only thing they can realistically do to sell it again (though I read somewhere they might try to sell it again as Straxus).
I like it. When it comes to some characters, the toy colors and the animation colors are slightly different, but probably not different enough to warrant a separate redeco. But when it comes to Galvatron, the difference is extreme. I find the toy color scheme to be very appealing, for very different reasons than the cartoon-based Kingdom toy.
Galvatron wasn't the best G1 toy, but he was one of my favorites to play with. He wasn't fragile like Megatron was. You could actually grab him and twist and turn and transform him without worrying about breaking him.
Zob (I might not put the stickers on him, though... they're cool, but they're kind of tacky at the same time)